Now, Nobel prize winner Joseph Stiglitz, who never saw government intervention and the use of its violence that he didn’t like, has come forward with his thoughts on bitcoin.

If you don’t want to lose more brain cells than a lifelong Mike Tyson sparring partner, then I warn you not to watch that video.

It is basically two manifest morons who know nothing about economics or cryptocurrencies trying to use big words, bow ties and act like they know something about economics and cryptocurrencies.

The first thing Stiglitz said was, “One of the main functions of government is to create currency.”

Yes, he is already in the wrong starting with the opening sentence. Governments rarely create currency… that is usually done by the central banks.

But government did not invent money or currency. And it is not government’s role to issue it or regulate it. The market invented money as a way to solve the barter problem.

Just like the market created bitcoin in order to get around the fraudulent monetary system, which the government took over as a scheme... another way to tax us... a way to shuffle wealth and investment to Wall Street... a way for the banks to expand their assets... a way for the military industrial complex to advance its goals. The elastic dollar can be stretched in these ways.

That aside, there is no legitimate function of government. Government is an illicit criminal organization that extorts groups of people in a certain geographical area.

In any case, Stiglitz was obviously told by his handlers what his role was in this interview as he barely got in two sentences before stating that bitcoin should be outlawed!

As I mentioned earlier, Stiglitz has never seen anything in which using government violence isn’t the answer… and that’s why he was given the Nobel prize and why he is featured on the television mind programming regularly.

And, why should it be outlawed? According to Stiglitz, bitcoin should be outlawed because it doesn’t serve any “useful social functions.”

But that’s like saying money serves none either.

He doesn’t understand the value of decentralization because he sees the market as the root of all evil and like all Marxists believes it is unstable and needs regulating.

Which is interesting because then this interview between two morons took a turn into the bizarre.

Considering that Stiglitz is essentially a Marxist, Tom Keene, the Bloomberg host, then attacked bitcoin saying investors are relying on Marx’s “theory of value” and going back to “middle Marxian” theories to determine bitcoin’s value.